Calamos Supports Greece

Value Added Tax

Greek State Champion in Overtaxing

The The The nation of Greece is once again a champion in overtaxing  its citizens, ranking 29th among 35 OECD countries, as shown in the 2018 International Tax Competitiveness Index (ITCI). The data was presented by the Center for Liberal Studies (KEFIM),...

Tax Evasion Rampant in Greek Hotels

Auditors of Greece's General Secretariat for Public Revenue found out that many hotels and owners of rooms to let have been evading taxes for years. The audits started in June based on a list received from the Ministry of Culture,...

Greeks Owe €91.5 Billion in Overdue Taxes, Security Contributions

Greek taxpayers' debts to the state increased by 1.3 billion euros this year, reaching a total 91.5 billion, amounting to more than half of the country’s gross domestic product. According to data from the General Secretariat for Public Revenue, in...

VAT Revenue Drops on Popular Greek Islands

Value added tax revenues dropped by 40 percent on the most popular tourist islands in the first five months of the year, according to figures by Greece's General Secretariat for Public Revenue. Mykonos, Santorini, Paros, Corfu, Zakynthos and Cephalonia showed...

New Bill Opens Door to Tax Evasion, Despite Tax Avalanche in Greece

Despite the fact that the Greek government burdened the already tax-laden citizens with more taxes, a new bill opens the door to tax evasion. The bill 4337/2015 that passed last October, abolishes the separate fines for violations of not issuing or...

New Tax Avalanche for Greeks to be Tabled in Parliament

A new series of taxes will be tabled soon in Greek Parliament after Sunday's vote on taxation and security fund reforms. The memorandum between Greece and creditors that goes into effect in June calls for more taxes in order to...

Wine Prices Go Up in Greece After New Excise Duty

Greek citizens will be asked to pay more to enjoy wine after the new excise duty added on wine. The measure is taken to counterbalance the scrapping of the 23 percent VAT rate on private education that was initially...

Negotiations Between Greece and Creditors Continue to Stumble

A new meeting between the Greek team and lenders representatives is scheduled on Sunday at noon after Saturday's 11-hour negotiation ended with issues still unresolved. Government sources said there was progress in talks, however several crucial issues are still pending....

Greek Govt Rushes to Find New Taxes to Fulfill Bailout Requirements

The SYRIZA-ANEL coalition government is rushing to find new taxes to present at Monday's Eurogroup in order to receive the 2-billion-euro subtranche of the bailout program. The new taxes that will be proposed are to replace the 23 percent value...

Greek Government in Total Confusion Over VAT on Private Education

The Greek government continues to kick the can down the road on the value added tax on private education by repeatedly postponing the date the measure will apply. The new postponement is for November 1. Until the next postponement...